Bittersweet Easter for consumers and African cocoa farmers but chocolate brands see profits [Globe and Mail, The (Toronto, Canada)]
The Hershey Company (HSY)
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Source: Globe and Mail, The
Yet the high Easter demand for chocolate carries a potential treat for big confectionery companies. Major global makers in Europe and the United States have more than passed on the rise in cocoa prices to consumers. Net profit margins at The Hershey Company increase increased to 16.7% in 2023 from 15.8% in 2022. Mondelez International decrease , which owns the Toblerone and Cadbury brands, reported a jump to 13.8% in 2023 from 8.6% the year before. “It is likely consumers will see a price spike on chocolate candy this Easter,” Wells Fargo said in a report this month. Mondelez said it raised chocolate prices up to 15% last year and would consider additional price hikes to help meet 2024 revenue growth forecasts. “Pricing is clearly a key component of this plan,” Chief Financial Officer Luca Zaramella said in January. “Its contribution will be a little bit less than we have seen in 2023, but it is higher than an average year.” Hershey's also raised prices on its products last yea
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News
- This is Why Hershey (HSY) is a Great Dividend Stock [Yahoo! Finance]Yahoo! Finance
- Upslope Capital - Hershey: Ideally Positioned To Emerge Stronger Despite Cocoa Crisis [Seeking Alpha]Seeking Alpha
- Hershey (HSY) Rises Yet Lags Behind Market: Some Facts Worth Knowing [Yahoo! Finance]Yahoo! Finance
- The legend and drama behind 'Buckeye Balls,' plus a history of chocolate and peanut butter combos [FOX News]FOX News
- The Hershey Company (NYSE: HSY) was downgraded by analysts at Edward Jones from a "buy" rating to a "hold" rating.MarketBeat
HSY
Earnings
- 2/8/24 - Beat
HSY
Sec Filings
- 4/24/24 - Form 4
- 4/23/24 - Form 144
- 4/12/24 - Form PX14A6G
- HSY's page on the SEC website